Bureau Veritas: Increasing Need for LNG Inspection (INTERVIEW)

In order to find out more about the Bureau Veritas LNG Inspectorate services, their plans to expand in the offshore and LNG segments, global LNG trade and 2015 growth strategy, LNG World News spoke with Bureau Veritas representatives Yvo J. Jansen, Director BV Industry & Facilities Benelux, Nordic & Baltic Region and Martijn Nieuwenhuijs, Deputy Chief Executive BV Marine NL and Technical Director BV Marine North Europe.

The interview was held at the Offshore Energy 2013 Exhibition and Conference, in Amsterdam, The Netherlands. Hereby we are bringing you a part of the conversation.

4Created in 1828, Bureau Veritas is a global leader in Testing, Inspection and Certification (TIC), delivering high quality services to help clients meet the growing challenges of quality, safety, environmental protection and social responsibility.

Bureau Veritas offers innovative solutions that go beyond simple compliance with regulations and standards, reducing risk, improving performance and promoting sustainable development.

1)     Can you tell us about Bureau Veritas’ activities in LNG Inspectorate services, what do they include?

1Jansen replied: „At BV and Inspectorate we believe that dealing in LNG is a commercial business with an increasing need for inspection and control. Inspectorate delivers integrated solutions for the global Liquefied Natural Gas (LNG) and wider gas industries.“

Jansen explained that Inspectorate’s LNG team supports the LNG supply chain by:

  • Providing highly skilled services to the production, transport, storage and custody transfer of LNG cargo;
  • Offering global LNG solutions to vessel owners, operators and traders of LNG; and
  • Helping clients confidently manage risk and exposure.

We also offer related training services specific to the Liquefied Gas sector, where attendees can benefit from our many years of industry experience. The objectives of our training services are to give a new vision and understanding of Natural Gas and its properties. In response to the recent rapid growth of global Natural Gas consumption, we have expanded our LNG & Liquefied Gas services in the Americas, Europe and the Middle East,“ Jansen added.

2)     Currently there are no international standards governing the measurement methods of LNG trade, and in the years to come we will see an increased amount of LNG exports which would prove to be challenging for new suppliers in terms of meeting exact measurement requirements. How can BV’s LNG Inspectorate help?

Jansen said: „The drive to reduce emissions has resulted in an increased reliance & importation of natural gas as a main source of clean energy. Natural gas is the cleanest burning fossil fuel, producing less emissions and pollutants than either coal or oil.“

3)     In August the company released the results for the first half of 2013, and in that press release you stated that the BV Group is continuing its strategy to expand in the offshore and LNG segments. Can you tell us something more about those plans, what do they include? Are you satisfied with that plan so far and is the company on track for the 2015 plan?

2Nieuwenhuijs answered: If you look at the LNG development, we have invested a lot in the sloshing technology. With the increase of LNG vessels, there is an increased need to have the tanks not completely filled, and when you have that situation, there is a risk of sloshing.  I think, technically speaking, this is one of the most difficult phenomena to calculate. BV has been very active in investing in research programs for this development, as well as on the application of LNG tankers or LNG storage facilities in the Arctic environment. There has been a discussion whether or not the pneumatic tanks were adapted to the arctic environment. We have made extensive studies of the interaction between ice and LNG carriers, to show that with this solution you can safely operate in ice conditions.“

Jansen commented: “Currently, when it comes to the Marine and Industry segments of Bureau Veritas, we are over achieving. In 2010 we announced our 2015 growth plan consisting of financial targets set out in the BV2015: Moving forward with confidence strategic plan:

  • Revenue growth: +9-12% on average per year, on a constant-currency basis:
  • Two-thirds from organic growth: +6-8% on average per year
  • One-third from acquisitions: +3-4% on average per year
  • Improvement in adjusted operating margin: +100-150bps (relative to 2011)
  • Growth in adjusted EPS: +10-15% on average per year between 2011 and 2015

“To date Bureau Veritas is exceeding its 2015 plan expectations, not only thanks to the environment, the market conditions and acquisitions, but very much attributed to the employees and their commitment to being the market leader.”

4)     Bureau Veritas recently expanded its presence in Canada by acquiring OTI Canada Group, any new transactions on the horizon?

Jansen: For sure we will look out for other M&A opportunities in America’s, Europe and Asia.

5)     What can you tell me about your experience at this year’s Offshore Energy?

I see more people and companies come to the event to learn about experiences in the North Sea. When it comes to offshore wind farms / renewables there is a lot to learn, Investors, EPC’s and Equipment & Technology suppliers seek support to understand the government plans, technology requirements, the show allows us to explore and leverage off experiences gained by all,” Jansen concluded.

Nieuwenhuijs added: “This year’s event is bigger than last year’s. I think you can see that there is a growing interest of companies to attend this event.

“You see now a broader spectrum of companies, more companies which are active both in shipping and offshore, whereas, last year the main exhibitors were purely offshore related companies.

“For myself, I have not noticed too much offshore wind this year. I know there is a separate conference on offshore wind, but throughout the exhibition I have seen maybe a bit less, it’s more oil and gas this year.”

5Jansen closed the interview by saying that BV believes in bringing more added value to the value chain to safeguard a safer, more sustainable and trusted place to live and work, not only in the project phases but as well as during operations all the way to delivering energy to the consumers at home.

LNG World News Staff, December 12, 2013

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